Fine Print

First, please read this article by CNET’s Caroline McCarthy, then, discuss …

Gartner analyst Adam Sarner projects that 50 per cent of social media campaigns will flop. Picking out a few choice quotes from the article, here’s some personal thoughts:

” … over 75 per cent of Fortune 1000 companies with websites will have undertaken some kind of online social networking initiative for marketing or customer relations purposes.”
That “75 per cent” stat sounds pretty high. Maybe 55-60 per cent may be closer?

“‘(Businesses) will rush to the community and try to connect, but essentially they won’t have a mutual purpose, and they’ll fail,’ Sarner said. By a ‘mutual purpose,’ he means a way to serve both the company putting out the campaign and the audience interacting with it: finding that balance is not easy. The quirkiest and most addictive campaigns often provide little value for the company and turn out to be fads, whereas marketing efforts on the Web often don’t go over as well with the public.”
I believe that if your purpose is to serve the community that the campaign is aimed at, then the company will ultimately be served down the line. [A company being ’served’ doesn’t sound appropriate; maybe ‘respected’ is a better word?] If the most addictive campaigns are the ones picked up on by the customers, then how can that provide “little value” for the company too?

“The social network is ‘more for the community than it is for the bottom line’ …”
Agree with Sarner on that one.

“‘Are you discovering what’s going to be the new black next season?’ he suggested as an example of a trendspotting-focused strategy.”
If anyone reading this knows what will happen [re. social media] in 12 months, please tell us so we can all jump in get involved.

“When asked whether the faltering economy will mean that businesses are cutting back on this largely unproven field of social media for marketing or customer relations, Sarner said he didn’t think so, and that many businesses will turn to the Web to stay in touch with consumers during a difficult financial climate.”
Sarner seems to be in agreement with the stats that Mitch Joel picked out a few days ago.

In summary, my take from the sentiments expressed is that, yes, companies do want to get into social media strategies, but are looking for ways that will benefit themselves and their customers in equal measure. I can still sense the reluctance — a little — to let go.

~ John Carson, Senior Digital Media Specialist, GCI Canada